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This study aims to better understand the emotional challenges that inexperienced accounting researchers may face in conducting ethnographies. To do so, the authors use Arlie Russell Hochschild’s (1979, 1983) notions of “feeling rules” and “emotion work” to shed light on the possible nature and impact of these challenges, and how her ideas may also become fruitful for academic purposes.

The authors take a reflective approach in sharing the raw observation notes and research diaries as first-time ethnographers in the area of management accounting. The authors use these to analyze “unprocessed” experiences of emotional challenges from the fieldwork and how the authors learned to cope with them.

The authors illustrate how emotional challenges in conducting ethnographies can be rooted in a clash with prevalent feeling rules of certain study situations. The authors explore the conditions under which these clashes occur and how they may prompt researchers to respond through means of emotion work to (re-)stabilize those situations. Based on these insights, the authors also discuss how wider conventions of the accounting academy may contribute to emotional challenges as they stand in contrast to principles of ethnographic research.

There remains a tendency in the accounting domain to largely omit emotional challenges in the making of ethnographies, especially in writing up studies. In this paper, the authors are motivated to break this silence and openly embrace such challenges as an asset when the authors talk about the process of creating knowledge.

This paper aims to estimate the performance of protective clothing used to resist puncture (anti-stab property).

Seven single-layer (one layer) samples were investigated in this research. The first three samples were already used for the purpose of (anti-stab property), manufactured from Du-Pont product (commercial samples). The rest of the samples were locally designed and manufactured for the same purpose. These seven samples have then been examined after been added in conjunction with WL Kevlar XP (S 104) witness multilayers (eight layers) panel to create which are called multilayer samples.

The results of the statistical analysis for one-way ANOVA illustrated significant effect for single layer samples for all properties. While for multi-layer samples, the results showed a significant difference for all variables except displacement. The Tukey post hoc test observed a significant effect for some samples; also, other samples show a non-significant effect between samples.

It was observed that the locally manufactured samples serve the purpose as (anti-stab samples) compared with the commercial samples. The radar chart shows that for single-layer sample, the fifth sample fulfill the highest radar chart area, whereas for multi-layer samples, the sixth sample achieved the highest radar chart area.

This study aims to examine the real effects of financial misconduct on corporate innovation.

The authors use a sample of Chinese A-share listed firms from 2006 to 2017. This study uses several empirical strategies to deal with endogeneity concerns, including Heckman’s two-stage correction approach, propensity score matching and instrumental variables.

The authors’ findings consistently show that financial misconduct impedes corporate innovation. Furthermore, the authors’ analysis demonstrates that the negative impact of financial misconduct is more pronounced in nonstate enterprises. The authors also show that financial misconduct discourages innovation through information, short-termism and financing channels.

This paper is of particular interest to policymakers, as firm behavior is heavily regulated and altered by securities laws and regulations over time. The authors recommend firms to observe financial regulatory laws to promote capital market integrity and enhance shareholder value through innovation projects. The authors also recommend that regulators provide incentives that encourage corporate transparency and use new technologies to detect financial misconduct quickly.

Few studies in literature investigate the real consequences of financial misconduct on firm investments. Hence, this paper fills this gap by analyzing the implications of financial misconduct on corporate innovation. This study is one of the first to provide new insights into the adverse effects of financial misconduct on firm-level innovation, supported by empirical evidence.

Entrepreneurial activity is a phenomenon that increases the economic growth of countries and improves their social welfare. The economic development levels of countries have significant effects on these entrepreneurial activities. This research examines which institutional and macroeconomic variables explain early-stage entrepreneurship activities in developed and developing economies.

The authors conducted panel data analysis on the data from the Global Entrepreneurship Monitor (GEM) and International Monetary Fund (IMF) surveys covering the years 2009–2018.

First, the authors' results reveal that cognitive, normative and regulatory institutions and macroeconomic factors affect early-stage entrepreneurial activity in developed and developing countries differently. Second, the authors' findings indicate that cognitive, normative and regulatory institutions affect early-stage entrepreneurship more positively in developed than developing countries. Finally, the authors' results report that macroeconomic factors are more effective in early-stage entrepreneurial activity in developing countries than in developed countries.

This study provides a better understanding of the components that help explain the differences in entrepreneurship between developed and developing countries regarding institutions and macroeconomic factors. In this way, it contributes to developing entrepreneurship literature with the theoretical achievements of combining institutional theory and macroeconomic indicators with entrepreneurship literature.

The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.

The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.

The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.

In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.

Working conditions, pay rates and the rights of workers to collectively negotiate have become important points of discussions in recent years, with support for unions and union applications rising to levels long unseen in America. In many instances, though, companies have responded aggressively. This is not the first time such a dynamic has played out in American business. This study aims to take a fresh look at one of America’s most prominent historical disputes between labor and ownership – the Homestead Massacre of 1892 – to glean lessons from that conflict that remain relevant to today’s business environment.

This study adopts game theory and the principles of repeated interaction to assess how differing discount factors led to differences in time orientations between the workers and the Carnegie company. These differing time orientations affected both the strategy each side deployed in the negotiations and the payoffs received by the parties. Letters, contemporary news reports and histories of the events leading up to and immediately following the 1892 Homestead Massacre are qualitatively analyzed with a genealogical pragmatic approach.

Differences in temporal orientation between management and workers exacerbated the conflict, with the workers adopting a more cooperative stance and distal time orientation, while the Carnegie company negotiated with a proximal time orientation and played to “win” a game that, in fact, could not be fully won or lost given its infinitely repeating nature. The result was a short-term victory for the Carnegie company but with long-term negative consequences that highlight the suboptimal outcome the company achieved by playing a proximal strategy in an infinite game.

Although the incident at Homestead is a well-studied labor dispute, many of the themes that preceded the incident have resurfaced in the modern work context. This work, by adopting game theory as an analytical framework, provides new insights into management mistakes that led to the labor conflict and lessons for what present-day managers can do to avoid exacerbating labor strife.

A small-world network is a type of network structure in which nodes are highly clustered and at short distances without being directly linked. This article analyzes whether the network of interlocking directorates among the largest Brazilian corporations follows a small-world network structure and if the small-world properties (high clustering and short distance between nodes) influence the occurrence of M&A at the domestic and international level.

The authors tested hypotheses regarding the relationship between small-world network properties and M&A based on a sample of large publicly-listed corporations in Brazil for the time series of 2000–2015 and using network analysis and regression techniques (probit and OLS).

The results show that while the Brazilian corporate network fits the small-world features of high clustering and short path lengths, only the distance among connected firms has a significant effect on international M&A: the shorter the distance between firms, the more likely firms undertake M&A abroad. Moreover, being integrated into the main component has a significant positive effect on national and international M&A. These findings suggest that the information and knowledge to undertake M&A can be better acquired by belonging to large business communities and not local cohesive clusters.

This research contributes to theories and ongoing debates about the network effects on organizational decisions and the determinants of M&A in emerging markets. In addition, this is the first study to analyze the impact of small-world networks on international M&A while controlling for country-level variables.

The present study aims to identify the dimensions of destination psychological ownership (DPO) from tourists’ perspectives and to develop a reliable and valid measurement scale.

The mixed method has been applied in this study for the development of a scale to measure psychological ownership (PO) of tourists. The first stage includes identifying the PO dimensions of tourists toward the tourist destinations through in-depth interviews with experts (university professors, managers and experts in the tourism industry). Theme analysis was applied to analyze the data in this stage. A quantitative survey was conducted among tourists during the second stage. Accordingly, a questionnaire was designed and its reliability and validity were investigated. Confirmatory factor analysis and structural equation modeling were used to examine the structural model and its validity.

The findings revealed that the DPO from tourists’ perspectives includes six dimensions for the sense of attachment, responsibility, the sense of trust, the sense of honor, the sense of gratification and self-identity toward tourist destinations. The validity of the conceptual model was confirmed according to the results of the quantitative section of the study.

The present study is one of the limited numbers of studies coping with PO, especially in the field of tourism, from the view of the consumer. The present study identifies the dimensions of the DPO of tourists and develops an instrument to measure them. Therefore, the developed questionnaire can be used as a valid and reliable instrument to measure the DPO in future research.

The purpose of this study is to investigate the role of sales, as a proxy for size, in moderating the impact of institutional incongruence between formal and informal institutions on the formalization of microenterprises in middle-income countries in Latin America.

The paper uses a probit regression model to examine business formalization as a binary outcome of formal and informal institutions. Data was collected through interviews and surveys across 52 municipalities in the Metropolitan Region of Santiago, Chile. The study used a stratified sampling approach and was conducted between November 2022 and January 2023.

The results offer three key insights into the formalization of microenterprises in middle-income countries. First, we show that formal institutions do not significantly influence formalization decisions among microentrepreneurs in middle-income countries, challenging the traditional belief that formal institutions alone significantly influence formalization in these contexts. Second, we show that informal institutions are significant predictors of informality, especially among smaller microenterprises. Third, we highlight that the smaller the business, the stronger the negative effect of informal institutions on formalization, and thus, the institutional incongruence between formal and informal institutions decreases for larger businesses.

This paper contributes to management literature by shedding light on the drivers of formalization in middle-income countries, a departure from most formalization studies wherein the focus is primarily on low-income economies. The findings suggest that policymakers in middle-income countries should focus on enabling microenterprise growth through sales, rather than targeting specific demographic groups or relying solely on formal institutional enforcement to promote formalization.

El objetivo de este estudio es investigar el papel de las ventas, utilizadas como un indicador de tamaño, en la mediación del impacto de la incongruencia institucional entre instituciones formales e informales en la formalización de microempresas en países de ingresos medios en América Latina.

Utilizamos un modelo de regresión Probit para examinar la formalización empresarial como un resultado binario de instituciones formales e informales. Los datos se recopilaron a través de 110 entrevistas y encuestas en 52 municipios de la Región Metropolitana de Santiago, Chile. El estudio empleó un enfoque de muestreo estratificado y se llevó a cabo entre noviembre de 2022 y enero de 2023.

Nuestros resultados ofrecen tres ideas clave sobre la formalización de microempresas en países de ingresos medios. Primero, demostramos que las instituciones formales no influyen significativamente en las decisiones de formalización entre las microempresas en países de ingresos medios; esto desafía la creencia tradicional de que las instituciones formales por sí solas influyen significativamente en la formalización en estos contextos. Segundo, nuestro estudio muestra que las instituciones informales son predictores significativos de la informalidad, especialmente entre las microempresas más pequeñas. Tercero, nuestro estudio destaca que el efecto negativo de las instituciones informales sobre la formalización es más fuerte para negocios de menor tamaño; por lo tanto, la incongruencia institucional entre instituciones formales e informales disminuye para negocios de mayor tamaño.

Este artículo contribuye a la literatura iluminando sobre los impulsores de la formalización en países de ingresos medios, a diferencia de la mayoría de los estudios de formalización en la región latinoamericana que se centran principalmente en países de bajos ingresos. Nuestros hallazgos sugieren que los responsables de políticas en países de ingresos medios deberían centrarse en impulsar el crecimiento de las microempresas a través de las ventas, en lugar de enfocarse en grupos demográficos específicos o depender únicamente del cumplimiento institucional formal para promover la formalización.

O objetivo deste estudo é investigar o papel das vendas, usadas como um indicador de tamanho, na mediação do impacto da incongruência institucional entre instituições formais e informais na formalização de microempresas em países de renda média na América Latina.

Utilizamos um modelo de regressão Probit para examinar a formalização empresarial como um resultado binário de instituições formais e informais. Os dados foram coletados por meio de 110 entrevistas e pesquisas em 52 municípios da Região Metropolitana de Santiago, Chile. O estudo empregou uma abordagem de amostragem estratificada e foi realizado entre novembro de 2022 e janeiro de 2023.

Nossos resultados oferecem três ideias-chave sobre a formalização de microempresas em países de renda média. Primeiro, demonstramos que as instituições formais não influenciam significativamente as decisões de formalização entre as microempresas em países de renda média; isso desafia a crença tradicional de que as instituições formais, por si só, influenciam significativamente a formalização nesses contextos. Segundo, nosso estudo mostra que as instituições informais são preditores significativos da informalidade, especialmente entre as microempresas menores. Terceiro, nosso estudo destaca que o efeito negativo das instituições informais sobre a formalização é mais forte para negócios de menor porte; portanto, a incongruência institucional entre instituições formais e informais diminui para negócios de maior porte.

Este artigo contribui para a literatura iluminando os impulsionadores da formalização em países de renda média, ao contrário da maioria dos estudos de formalização na região latino-americana, que se concentram principalmente em países de baixa renda. Nossos achados sugerem que os responsáveis pelas políticas em países de renda média deveriam focar em impulsionar o crescimento das microempresas por meio das vendas, em vez de se concentrar em grupos demográficos específicos ou depender exclusivamente do cumprimento institucional formal para promover a formalização.

This study aims to explore the evolutionary trajectory of American corporations and their governance over the past few centuries, using a multidisciplinary investigative approach. The research focuses on the American business landscape because it has played a pivotal role in shaping the field of corporate governance theory and practice.

The author thoroughly investigates archival records, legal documents, academic publications, reputable databases and pertinent literature to unearth valuable insights into the key events that have influenced the evolutionary path of American corporations and their governance throughout history.

Delving into the evolutionary journey of American corporations and their governance reveals a multifaceted narrative, enhancing our comprehension of the impact of the external socio-economic environment, and the effectiveness and limitations of established corporate governance paradigms in addressing such transformations. This introspection establishes the groundwork for ongoing discussions concerning how corporate governance should adapt to meet the evolving needs and expectations of stakeholders and society as a whole, with a specific focus on the pivotal role that boardrooms could play in this regard.

The insights gained from this analysis offer practitioners a foundational resource to understand corporate governance in a complex business landscape. Armed with this understanding, practitioners can better align governance strategies with both historical context and contemporary requirements.

The research has significant social implications in the sense that history highlights the importance of the society in influencing corporate governance practices. It specifically emphasizes the need for the board of directors to consider both shareholder value and social responsibility, while also fostering public trust and confidence.

Many corporate governance concepts are often used with limited understanding of their initial intent, resulting in their unquestioned adoption. In this paper, the author offers a contextual exploration of historical events that have contributed to the development of these diverse corporate perspectives. To the best of the author’s knowledge, there are exceedingly few, if any, papers that present comparably insightful and multidisciplinary insights into the evolutionary path of corporations and their governance, especially within a dynamic and influential market like that of the USA.